Consumers strongly prefer improvements to the traditional car buying process. An study of over 4,000 car shoppers found that less than 1% preferred the current process. While components will remain the same, execution will change. Consumers want convenience, control, and flexibility through more online shopping and structuring deals. They also prefer alternative test drive options and the ability to get service anywhere locally. Dealers who adapt to these emerging preferences will be more successful earning long-term customer loyalty and sales.
Connected consumers are in charge. They are confident about what they want and how they want it, secure in using technology to increase their power as car shoppers and owners, and comfortable driving innovation in the industry
Connected consumers are in charge. They are confident about what they want and how they want it, secure in using technology to increase their power as car shoppers and owners, and comfortable driving innovation in the industry
Automotive companies have started to respond to changing customer buying behavior by piloting new online business models. However, most current initiatives are still removed from what customers expect.
The 2018 Car Buyer Journey Study by Cox Automotive tells us that the consumer-dealer relationship is more important than ever. With interest rates growing and credit standards tightening this year, the F&I part of the experience will become more frustrating for both consumers and dealers. Pricing transparency and digital retailing are two ways to offset some of the economic challenges we can’t control.
How Automotive Brand Affects Used Vehicles Prices.
Brand perception plays an important role in used
vehicle demand as well. Used vehicles from brands
with an established history of successfully meeting
buyers’ most critical needs usually sell for more
than the competition. This consistent ability to
satisfy core purchase drivers gives stronger brands
an innate advantage in cost-of-ownership and
residual value. To better explain this cause and
effect, this report explores the brand characteristics
that drive auto purchase behavior, and their impact
on used vehicle prices.
Cars.com Online CPO Insights Presentation Nov 2012Cars.com
About the study
To help dealers and manufacturers understand more about shopper motivations for purchasing or considering a CPO vehicle, Cars.com conducted a survey of nearly 900 online car shoppers in June 2012 who intended to purchase or had recently purchased a CPO vehicle. The survey was served via Qualtrics survey tool utilizing Qualtrics’ survey panel of respondents.
Intenders n=590 and purchasers n=288
Auto shoppers are open to influences. Today’s auto intenders are open-minded with 72% of search sessions involving cross-shopping. In-market shoppers are researching more than ever. While time in-market is roughly the same, these shoppers are turning to 24 research touch points on average. Connected devices are driving greater research activity. Mobile usage has increased 35% year over year, with a focus on research and comparison activities. Video influences auto brand discovery and consideration. Video research is on the rise and online video was the #1 format for encouraging brand consideration. Dealer interaction and post-purchase experiences matter. 62% of the vehicle owners said customer service could influence future purchases.
Deloitte Motor Industry Services present our 3rd study on the changing nature of mobility.
The study identified six megatrends which are providing consumers with more choices than ever before in meeting their transportation needs and as a result, redefining mobility.
In 2009, Deloitte began to explore perspectives on automotive brands, desired features, and shopping experiences for consumers born 1977-1994 – “Gen Y”.
The leading purchase considerations for Gen Y have changed every year since the study began in 2009.
Some key insights and takeaways from the study:
• 75% of consumers are interested in acquiring a car within the next 5 years
• Almost half of Generation Y consumers in Australia think they will be driving an alternative powertrain five years from now, with strong preference for Hybrid Electrics, and indicate they are willing to pay more for it
• Improved safety and efficiency technologies are seen as the greatest technology benefits by Gen Y (over cockpit technologies)
• 55% of Gen Y (26% all others) like using a smartphone app to plan transport
• About two-thirds of Gen Y consumers are influenced by friends and family
• Today, most consumers are interested in basic levels of automation e.g. traction control, ABS.
Automotive companies have started to respond to changing customer buying behavior by piloting new online business models. However, most current initiatives are still removed from what customers expect.
The 2018 Car Buyer Journey Study by Cox Automotive tells us that the consumer-dealer relationship is more important than ever. With interest rates growing and credit standards tightening this year, the F&I part of the experience will become more frustrating for both consumers and dealers. Pricing transparency and digital retailing are two ways to offset some of the economic challenges we can’t control.
How Automotive Brand Affects Used Vehicles Prices.
Brand perception plays an important role in used
vehicle demand as well. Used vehicles from brands
with an established history of successfully meeting
buyers’ most critical needs usually sell for more
than the competition. This consistent ability to
satisfy core purchase drivers gives stronger brands
an innate advantage in cost-of-ownership and
residual value. To better explain this cause and
effect, this report explores the brand characteristics
that drive auto purchase behavior, and their impact
on used vehicle prices.
Cars.com Online CPO Insights Presentation Nov 2012Cars.com
About the study
To help dealers and manufacturers understand more about shopper motivations for purchasing or considering a CPO vehicle, Cars.com conducted a survey of nearly 900 online car shoppers in June 2012 who intended to purchase or had recently purchased a CPO vehicle. The survey was served via Qualtrics survey tool utilizing Qualtrics’ survey panel of respondents.
Intenders n=590 and purchasers n=288
Auto shoppers are open to influences. Today’s auto intenders are open-minded with 72% of search sessions involving cross-shopping. In-market shoppers are researching more than ever. While time in-market is roughly the same, these shoppers are turning to 24 research touch points on average. Connected devices are driving greater research activity. Mobile usage has increased 35% year over year, with a focus on research and comparison activities. Video influences auto brand discovery and consideration. Video research is on the rise and online video was the #1 format for encouraging brand consideration. Dealer interaction and post-purchase experiences matter. 62% of the vehicle owners said customer service could influence future purchases.
Deloitte Motor Industry Services present our 3rd study on the changing nature of mobility.
The study identified six megatrends which are providing consumers with more choices than ever before in meeting their transportation needs and as a result, redefining mobility.
In 2009, Deloitte began to explore perspectives on automotive brands, desired features, and shopping experiences for consumers born 1977-1994 – “Gen Y”.
The leading purchase considerations for Gen Y have changed every year since the study began in 2009.
Some key insights and takeaways from the study:
• 75% of consumers are interested in acquiring a car within the next 5 years
• Almost half of Generation Y consumers in Australia think they will be driving an alternative powertrain five years from now, with strong preference for Hybrid Electrics, and indicate they are willing to pay more for it
• Improved safety and efficiency technologies are seen as the greatest technology benefits by Gen Y (over cockpit technologies)
• 55% of Gen Y (26% all others) like using a smartphone app to plan transport
• About two-thirds of Gen Y consumers are influenced by friends and family
• Today, most consumers are interested in basic levels of automation e.g. traction control, ABS.
Drivers for Digital Growth: Google, Hamel SoniAdthena
Google AUTO
Hamel Soni, Automotive Industry Head, Google
Presented at Drivers for Digital Growth, an automotive summit co-hosted by Adthena and Jellyfish
How Automakers Can Enhance Customer Experience in the New NormalCognizant
While other industries have built highly engaging and hyper-personal customer experiences, the automotive industry, comparatively speaking, has fallen short. The accelerating convergence of automotive-specific and generic consumer technologies presents a huge untapped opportunity for automakers to build tomorrow’s car-as-an-experience value proposition, even as the pandemic accelerates full-speed digitization across the board.
Driving Through The Consumer’s Mind: Steps In The Buying Processaditya848
The passenger car market, after a period of slow and no growth, seems to be showing signs of turning around. Based on the encouraging growth numbers, automotive manufacturers are counting on the general mood of optimism to see the sales change gears and accelerate.
IS20G11 - Turn Up the Volume! 3 Rockstar Tactics to Close More Deals with Co...Sean Bradley
Dealers that use ecommerce have a competitive advantage. 9 out of 10 shoppers are more likely to buy from a dealer that offers ecommerce. How can you fully capture this demand to increase your sales volume? Incorporate ecommerce into your BDC and sales processes. Attend this session to learn 3 proven tactics to close more deals with ecommerce.
Key Takeaways:
-Explore ways to upgrade your customer experience and win over today’s car buyers
-Discover how building ecommerce into your BDC and sales processes can boost profit per vehicle by $700
-Learn how to leverage ecommerce to close more deals
Customer management in used car businessThomas Dmoch
User generated content receives a special meaning in used car forums, blogs and social media platforms. Used car customers award a higher credibility to this sources than to advertising, brochures or sales talk. Sales expert Thomas Dmoch presents market research, best practices examples and factors for successful contact with used car customers whose purchase decision is mainly influenced by the judgment of other customers, i.e. eers from social media platforms.
Key Tactics to Address the Pain Points of Women Car Buyers
This session will share recent research on women car buyers and their pain points in the shopping process; and offer key tactics that will help dealers address these pain points and win.
Learn more about Automotive Digital Marketing at the most popular professional network for car dealers and interactive marketers working in the auto industry at http://www.automotivedigitalmarketing.com/
Andrew Grant of MaritzCX London explains why customer experience (CX) is the next frontier for businesses. Today's customers expect more from brands. Andrew's data shows the link between customer satisfaction and repurchase activity. He covers a bit about what the future of CX management might look like including shorter surveys and the inclusion of non-research data to help brands get a fuller picture of each customer and act in real time.
𝘼𝙣𝙩𝙞𝙦𝙪𝙚 𝙋𝙡𝙖𝙨𝙩𝙞𝙘 𝙏𝙧𝙖𝙙𝙚𝙧𝙨 𝙞𝙨 𝙫𝙚𝙧𝙮 𝙛𝙖𝙢𝙤𝙪𝙨 𝙛𝙤𝙧 𝙢𝙖𝙣𝙪𝙛𝙖𝙘𝙩𝙪𝙧𝙞𝙣𝙜 𝙩𝙝𝙚𝙞𝙧 𝙥𝙧𝙤𝙙𝙪𝙘𝙩𝙨. 𝙒𝙚 𝙝𝙖𝙫𝙚 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙥𝙡𝙖𝙨𝙩𝙞𝙘 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙪𝙨𝙚𝙙 𝙞𝙣 𝙖𝙪𝙩𝙤𝙢𝙤𝙩𝙞𝙫𝙚 𝙖𝙣𝙙 𝙖𝙪𝙩𝙤 𝙥𝙖𝙧𝙩𝙨 𝙖𝙣𝙙 𝙖𝙡𝙡 𝙩𝙝𝙚 𝙛𝙖𝙢𝙤𝙪𝙨 𝙘𝙤𝙢𝙥𝙖𝙣𝙞𝙚𝙨 𝙗𝙪𝙮 𝙩𝙝𝙚 𝙜𝙧𝙖𝙣𝙪𝙡𝙚𝙨 𝙛𝙧𝙤𝙢 𝙪𝙨.
Over the 10 years, we have gained a strong foothold in the market due to our range's high quality, competitive prices, and time-lined delivery schedules.
Comprehensive program for Agricultural Finance, the Automotive Sector, and Empowerment . We will define the full scope and provide a detailed two-week plan for identifying strategic partners in each area within Limpopo, including target areas.:
1. Agricultural : Supporting Primary and Secondary Agriculture
• Scope: Provide support solutions to enhance agricultural productivity and sustainability.
• Target Areas: Polokwane, Tzaneen, Thohoyandou, Makhado, and Giyani.
2. Automotive Sector: Partnerships with Mechanics and Panel Beater Shops
• Scope: Develop collaborations with automotive service providers to improve service quality and business operations.
• Target Areas: Polokwane, Lephalale, Mokopane, Phalaborwa, and Bela-Bela.
3. Empowerment : Focusing on Women Empowerment
• Scope: Provide business support support and training to women-owned businesses, promoting economic inclusion.
• Target Areas: Polokwane, Thohoyandou, Musina, Burgersfort, and Louis Trichardt.
We will also prioritize Industrial Economic Zone areas and their priorities.
Sign up on https://profilesmes.online/welcome/
To be eligible:
1. You must have a registered business and operate in Limpopo
2. Generate revenue
3. Sectors : Agriculture ( primary and secondary) and Automative
Women and Youth are encouraged to apply even if you don't fall in those sectors.
Fleet management these days is next to impossible without connected vehicle solutions. Why? Well, fleet trackers and accompanying connected vehicle management solutions tend to offer quite a few hard-to-ignore benefits to fleet managers and businesses alike. Let’s check them out!
What Does the PARKTRONIC Inoperative, See Owner's Manual Message Mean for You...Autohaus Service and Sales
Learn what "PARKTRONIC Inoperative, See Owner's Manual" means for your Mercedes-Benz. This message indicates a malfunction in the parking assistance system, potentially due to sensor issues or electrical faults. Prompt attention is crucial to ensure safety and functionality. Follow steps outlined for diagnosis and repair in the owner's manual.
Ever been troubled by the blinking sign and didn’t know what to do?
Here’s a handy guide to dashboard symbols so that you’ll never be confused again!
Save them for later and save the trouble!
Things to remember while upgrading the brakes of your carjennifermiller8137
Upgrading the brakes of your car? Keep these things in mind before doing so. Additionally, start using an OBD 2 GPS tracker so that you never miss a vehicle maintenance appointment. On top of this, a car GPS tracker will also let you master good driving habits that will let you increase the operational life of your car’s brakes.
What Exactly Is The Common Rail Direct Injection System & How Does It WorkMotor Cars International
Learn about Common Rail Direct Injection (CRDi) - the revolutionary technology that has made diesel engines more efficient. Explore its workings, advantages like enhanced fuel efficiency and increased power output, along with drawbacks such as complexity and higher initial cost. Compare CRDi with traditional diesel engines and discover why it's the preferred choice for modern engines.
Symptoms like intermittent starting and key recognition errors signal potential problems with your Mercedes’ EIS. Use diagnostic steps like error code checks and spare key tests. Professional diagnosis and solutions like EIS replacement ensure safe driving. Consult a qualified technician for accurate diagnosis and repair.
Core technology of Hyundai Motor Group's EV platform 'E-GMP'Hyundai Motor Group
What’s the force behind Hyundai Motor Group's EV performance and quality?
Maximized driving performance and quick charging time through high-density battery pack and fast charging technology and applicable to various vehicle types!
Discover more about Hyundai Motor Group’s EV platform ‘E-GMP’!
"Trans Failsafe Prog" on your BMW X5 indicates potential transmission issues requiring immediate action. This safety feature activates in response to abnormalities like low fluid levels, leaks, faulty sensors, electrical or mechanical failures, and overheating.
Why Is Your BMW X3 Hood Not Responding To Release CommandsDart Auto
Experiencing difficulty opening your BMW X3's hood? This guide explores potential issues like mechanical obstruction, hood release mechanism failure, electrical problems, and emergency release malfunctions. Troubleshooting tips include basic checks, clearing obstructions, applying pressure, and using the emergency release.
In this presentation, we have discussed a very important feature of BMW X5 cars… the Comfort Access. Things that can significantly limit its functionality. And things that you can try to restore the functionality of such a convenient feature of your vehicle.
2. IMPROVEMENTS TO THE CAR-BUYING PROCESS MAY LEAD TO THESE POSITIVE OUTCOMES
66%
72%
53%
prefer the CURRENT CAR BUYING PROCESS
17 OUT OF 4,002
ONLY
Autotrader’s Car Buyer of the Future Study looked at the current shopping, buying and ownership
process and asked more than 4,002 consumers about their ideal process. Only 17 car shoppers and
buyers out of 4,002 — that’s less than 1% — chose the current process as their ideal experience. But
there is good news for the automotive industry because the study also revealed that improvements
in the process will benefit the industry.
In the future, while the actual components of car shopping and buying will remain the same, the execution
will look different. Convenience and shared control of the process will be essential to earning a car shopper’s
business and loyalty. An important consideration for the industry, however, is that the future is imminent and
the evolution of the process should begin today.
will visit dealerships
more often
will be much more likely to buy
from a dealership with their
preferred experience
will buy a vehicle
more often
CONSUMERS
WANT CHANGE IN
THE CAR-BUYING
PROCESS
3. SALESPEOPLE WILL BE
LESS IMPORTANT
CONSUMERS DON’T
WANT TO NEGOTIATE
LOWEST PRICE WILL
ALWAYS WIN
Dealerships of the future will not
just be for transactions. 43% of
consumers say they will go to the
dealership to learn about cars, and
84% of consumers actually prefer
to buy vehicles in person.
56% of consumers said they prefer
to negotiate, yet the 2015 Automotive
Buyer Influence Study shows
negotiating is a top frustration for car
buyers. This points to an opportunity
to increase trust in the dealer—car
shopper relationship and highlights a
significant pain point: Car shoppers
believe that negotiating is the only
way to get the best deal or a fair price.
Dealerships of the future can build
trust and transparency by using tools
like Kelley Blue Book Price Advisor
and Trade-In Marketplace to
validate pricing.
Consumers will pay more for a better
experience. In fact, 54% said they
would buy from a dealership that
offers their preferred experience, even
if it didn’t have the lowest price.
43%
84%
56%
want to BUY a car IN PERSON
prefer to NEGOTIATE
see the dealerships as a
place to LEARN
DISPELLING
MYTHS
“Buying a car online would be a little weird. I think losing that personal touch would be a bad thing.”
+
73%
54%
are willing to drive farther
for a GREAT SALESPERSON
vs. 65% who are willing to
drive for lowest price
would buy from
a dealership with their
preferred EXPERIENCE
over lowest price
ABOUT THE FUTURE OF
CAR-BUYING
4. WHAT WILL
THE FUTURE LOOK LIKE?
THE STUDY IDENTIFIED KEY AREAS WHERE CONSUMER DEMAND IS INFLUENCING RAPID
CHANGE. HIGHLIGHTED BELOW ARE AREAS OF THE SHOPPING PROCESS WHERE THE
INDUSTRY SHOULD FOCUS FIRST ON MAKING IMPROVEMENTS.
SHOPPERS WILL
CONTINUE TO RESEARCH
ONLINE & ACROSS
MULTIPLE DEVICES
DEAL-STRUCTURING
WILL BEGIN ONLINE*
THE TEST-DRIVE
EXPERIENCE WILL EVOLVE
Car buyers of the future will
continue to use third-party sites like
Autotrader and Kelley Blue Book to
look at inventory, compare makes/
models, research car pricing and find
out what their current car is worth1
,
and they will do so on an arsenal of
devices. Today, 42% of car buyers
use multiple devices to shop for a car
and it’s growing rapidly.1
By 2020, it
is projected to be 80%.2
As a result, investing in mobile
experiences is a necessity and
content is king. Dealers should focus
on robust online merchandising
that is easily accessible across all
devices. Strong, relevant content
creates a better shopping experience
across multiple screens, opening up
more opportunities for dealers and
manufacturers to drive influence and
preference for their dealership
and brand.
Consumers want to structure
deals online before arriving at the
dealership. 56% like to start the
negotiation on their terms and 45%
like being anonymous to the dealer
until they lock in a deal. Instead of
ecommerce, the future will be more
about online “connection commerce,”
where the dealership still plays an
important role. There are now tools
available, like MakeMyDealSM
, that
facilitate connection commerce
by allowing car shoppers to
engage dealers online and start
structuring deals.
It’s important for dealers to provide
customer handling training for their
salespeople to help them understand
the online negotiation process.
Pressuring consumers during online
negotiations to come into the
dealership to structure the deal will
likely turn them off and result in a
lost sale.
Test-drives will still play an important
role in the future. In fact, 88% of
consumers said they would not
purchase a car without test-driving it
first, yet 81% of consumers prefer a
different test-drive experience than
the traditional accompanied test-drive
model that predominantly exists today.
The key to successful test-drives in
the future are ones that will center
around convenience for car shoppers
and low sales pressure. The study
explored various alternative options
— some real, some hypothetical — to
the current accompanied test-drive.
Consumers in the study preferred
home test-drives, or test-drive centers
that allowed them to drive different
makes and models, or “unlock” test-
drives that allow them to visit the
dealership at any time and conduct
a test-drive on their own. Test-drives
should allow consumers to learn more
about different models and experience
them first-hand as part of the
shopping process, and should focus
less on closing a sale. Dealers who
make adjustments to their test-drive
process will be better positioned to
earn a car buyer’s business and higher
customer satisfaction.
45%
67%
56%
81%
like being anonymous to the dealer
until they lock in a deal
like not having pressure
while test-driving**
like to start the negotiation
on their terms
prefer a different test-drive
experience than the traditional
accompanied test-drive
car buyers use multiple
devices to shop for a car
TODAY
80%
42%
the vast majority will use
multiple devices to shop
for a car
BY 2020
“If I don’t lay eyes on it and hands on it, I am not buying it. You can take a picture 100 different ways and get 100 different
perspectives. I have to put my hands on it.”
+ * Among those who selected Online Deal Structuring (1,193)
** Among those who selected Test Drive Centers (994)
Sources: (1) 2015 Automotive Buyer Influence Study, IHS and Autotrader (2) Autotrader forecast, 2015
5. THE STUDY IDENTIFIED KEY AREAS WHERE CONSUMER DEMAND IS INFLUENCING RAPID
CHANGE. HIGHLIGHTED BELOW ARE AREAS OF THE BUYING AND OWNERSHIP PROCESS
WHERE THE INDUSTRY SHOULD FOCUS FIRST ON MAKING IMPROVEMENTS.
WHAT WILL
THE FUTURE LOOK LIKE?
FINANCING PROCESS WILL
BEGIN ONLINE
CONSUMERS WANT LOCAL
SERVICE NETWORKS
An overwhelming majority — 70% —
of consumers said that when it comes
to F&I, they want to start the process
online. Not only will it shorten the time
spent in the dealership to complete a
purchase, which is a top frustration
among car buyers,1
it can also increase
customer satisfaction. Customer
satisfaction is highest within the first
90 minutes at the dealership, as the
amount of time a customer spends
at the dealership increases customer
satisfaction with that dealer is likely
to decrease.3
With continued online research, online
deal-building and the desire to begin
the financing process online as the
new standard, this also means that
after-market pitches need to come
earlier in the process — and online. The
good news is that car shoppers say
they would actually buy more after-
market (F&I) products if they learned
about them earlier in
the process.4
92% of consumers want more service
location options where they can
have their car serviced at any of the
dealership’s local service centers, even
if they didn’t purchase their car there.
As a result, the industry should focus
on providing consumers more flexibility,
control and convenience in the area
of service. There is an opportunity for
manufacturers, dealers and industry
partners to work together to provide
more meaningful options to consumers.
63%
76%
83%
want to be able to service
their vehicle anywhere**
want to go to a service
center close by**
find local service
networks appealing
“With the two-year oil—change and maintenance, I thought I was going to be able to go to any Toyota dealer but I couldn’t and
that kind of upset me.”
+
find online
paperwork appealing
want to save time
at the dealership*
don’t want to be pressured
when filling out paperwork*
72%
72%
71%
* Among those who selected Online Paperwork (1,307)
** Among those who selected Local Service Networks (986)
Sources: (3) Autotrader Sourcing Studies, 2014 (4) 2015 F&I Study, MakeMyDeal